Golden Veroleum Liberia (GVL) and Ivorian Ago Giant Industry Corporation, SIFCA signed a US $34Million agreement with the Government of Liberia to construct a joint venture oil processing plant in Maryland County. The plant will be one of the biggest oil palm factories in the region with a production capacity of 80 metric ton per hour.
At the signing ceremony on Wednesday January 9, 2019, the Chairman of the National Investment Commission, Hon. Molewuleh B. Gray, stressed that the joint venture will clearly support the Pro Poor agenda of President George Manneh Weah and is a clear manifestation of the Government’s priority to boost the agriculture sector to make Liberia self-reliant by enhancing value addition and ensuring local produce.
The agreement between GVL-SIFCA and the Government of Liberia was negotiated and concluded following close scrutiny by the Investment Incentive Scheme and will create hundreds of jobs directly and indirectly.
The GVL-SIFCA project will deliver developmental activities in the host communities including construction, usage, improvement and maintenance of roads, bridges and other transportation facilities; supply of safe water for employees in residential communities; provision of modern health facilities; provision of adequate shared housing facilities for employees; medical care and free primary and high school education among others. The government has mandated the implementation of the Institute of Internal Audit (IIA) to ensure GVL-SIFCA give first priority to qualified Liberians in terms of employment and respect the Environmental Laws of Liberia.